Foster Wheeler AG Hits New 12-Month High at $34.69 (FWLT)
Foster Wheeler AG (NASDAQ:FWLT) hit a new 52-week high during trading on Friday , American Banking News reports. The company traded as high as $34.69 and last traded at $34.67, with a volume of 566,411 shares changing hands. The stock had previously closed at $34.15.
Several analysts have recently commented on the stock. Analysts at TheStreet upgraded shares of Foster Wheeler AG from a “hold” rating to a “buy” rating in a research note on Tuesday, May 20th. Separately, analysts at Canaccord Genuity raised their price target on shares of Foster Wheeler AG from $32.00 to $34.50 in a research note on Monday, May 12th. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Foster Wheeler AG in a research note on Friday, April 11th. They now have a $36.00 price target on the stock. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $32.39.
The stock has a 50-day moving average of $33.69 and a 200-day moving average of $32.00. The company has a market cap of $3.460 billion and a price-to-earnings ratio of 33.65. Foster Wheeler AG also was the recipient of a large drop in short interest during the month of May. As of May 15th, there was short interest totalling 672,175 shares, a drop of 32.1% from the April 30th total of 989,919 shares. Based on an average daily trading volume, of 632,062 shares, the days-to-cover ratio is presently 1.1 days. Approximately 0.7% of the shares of the company are sold short.
Foster Wheeler AG (NASDAQ:FWLT) last released its earnings data on Wednesday, May 7th. The company reported $0.19 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.38 by $0.19. The company had revenue of $733.70 million for the quarter, compared to the consensus estimate of $885.63 million. During the same quarter in the prior year, the company posted $0.14 earnings per share. The company’s quarterly revenue was down 7.1% on a year-over-year basis. On average, analysts predict that Foster Wheeler AG will post $1.79 earnings per share for the current fiscal year.
In other Foster Wheeler AG news, CEO J Kent Masters unloaded 130,668 shares of the stock on the open market in a transaction dated Thursday, June 5th. The stock was sold at an average price of $33.95, for a total value of $4,436,178.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Foster Wheeler AG (NASDAQ:FWLT) is a supplier of engineering, construction and project management contractor and power equipment.
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